Kering (EU:KER), the French luxury conglomerate, saw its stock climb 2% after it and Qatari investor group Mayhoola revised their shareholders’ agreement for Valentino, the Italian fashion label renowned for luxury apparel and accessories.
The update postpones the full acquisition of Valentino, ensuring the brand’s current ownership remains unchanged at least through 2028.
Under the amended terms, Mayhoola’s put options to sell its remaining 70% stake in Valentino—originally scheduled for 2026 and 2027—are now deferred to 2028 and 2029. Meanwhile, Kering’s call option to acquire Mayhoola’s stake, initially set for 2028, has also been pushed back to 2029. Other terms of the agreement remain unchanged.
Kering first took a 30% stake in Valentino in 2023, aiming to reinforce its footprint in the high-end fashion market. The companies noted that the agreement revision aligns with a new phase for Valentino, marked by the appointment of Riccardo Bellini as CEO.
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